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'Best person' needed for IMF job, says Vince Cable Time not right for Brown IMF bid, says Lord Myners
(about 4 hours later)
The best person in the world is needed to lead the IMF, the business secretary has said after current chief Dominique Strauss-Kahn resigned. A former colleague of Gordon Brown has said the time is not "right" for the ex-prime minister to become the head of the International Monetary Fund.
Vince Cable's comments follow reports aides of former PM Gordon Brown are campaigning for him to get the job. Mr Brown's aides are reportedly campaigning for him to get the job following the resignation of Dominique Strauss-Kahn amid sex assault claims.
Mr Cable said he would not comment on Mr Brown's "strengths and weaknesses" but told the BBC the new head would "probably" come from the Eurozone. But Labour ex-City minister Lord Myners said a "non-European" should be chosen.
Mr Strauss Kahn quit after his arrest over an alleged sex assault in the US. Prime Minister David Cameron has already said Mr Brown might not be the "best person" to run the IMF.
He denies the allegations but said he felt "compelled" to resign in order to devote his attention to "proving my innocence". Mr Strauss-Kahn resigned after his arrest over an alleged sex assault on a hotel maid in New York. He denies the allegations but said he felt "compelled" to resign in order to devote his attention to "proving my innocence".
Mr Brown, who was chancellor for ten years before becoming prime minister in 2007, has returned to the back benches after Labour lost power in last year's general election. Mr Brown, who was chancellor for 10 years before becoming prime minister in 2007, returned to the Labour back benches after the party lost power in last year's general election.
'National champions' His global profile rose during efforts to alleviate the effects of the financial crisis while in Downing Street.
He took on an advisory role at the World Economic Forum last month and there had been much speculation he could take on the IMF job - which Mr Strauss Kahn was expected to vacate anyway in order to run for the French presidency. 'No shortage'
David Cameron appeared to kill off his chances, when he said last month Mr Brown may not be the "best person" to head the global finance watchdog. Mr Brown took on an advisory role at the World Economic Forum last month and there had been much speculation he could take on the IMF job, which Mr Strauss-Kahn was expected to vacate anyway in order to run for the French presidency.
But the Times reports that Mr Brown's aides are continuing the campaign for the former PM to get the IMF job - as speculation continues about other international candidates. Mr Cameron's comments appeared to kill off his prime ministerial predecessor's chances, as backing from a candidate's national government is seen as prerequisite for selection.
Asked about the reports, Mr Cable told the BBC's Today programme the new IMF head would "probably" come from the Eurozone. But the Times reports that Mr Brown's aides are continuing the campaign for him to get the job, as speculation continues about other international candidates.
Mr Cable said he did not want to comment on Mr Brown's chances but added: "I think promoting national champions, whoever they are, probably isn't the best way of dealing with this. Lord Myners, the former M&S chairman who spent 18 months in government when Mr Brown was in Downing Street, told BBC Radio Four's World at One: "There are a number of people who have said that they don't think the time is right for Gordon to put his name forward and I tend to agree that that's right... because I think it should be someone non-European."
He also said: "The best candidate should be appointed regardless of where they come from... There's no shortage of candidates from outside Europe."
A source close to Mr Brown said aides were "not running a campaign" for the IMF job.
But BBC political correspondent Jo Coburn said he had apparently spent a large part of the day taking calls from around the world from international figures offering their support.
One of the priorities for the next IMF managing director will be to deal with Greece's debt crisis and the wider problems within the eurozone.
Lib Dem Business Secretary Vince Cable said he did not want to comment on Mr Brown's chances, but told the BBC: "I think promoting national champions, whoever they are, probably isn't the best way of dealing with this.
"The IMF is dealing with a major economic crisis in Europe. They need somebody very effective and respected."The IMF is dealing with a major economic crisis in Europe. They need somebody very effective and respected.
"Particularly somebody who understands the internal problems of the Eurozone. That is probably where the new head of the IMF will come from. "Particularly somebody who understands the internal problems of the eurozone. That is probably where the new head of the IMF will come from.
"If it doesn't, someone from the eastern Asian countries who has had a very successful record in economic management.""If it doesn't, someone from the eastern Asian countries who has had a very successful record in economic management."
BBC economics editor Stephanie Flanders said there was a lot more pressure from the Europeans to have another European candidate - as there were three active IMF programmes in the Eurozone - but there was also pressure from emerging economies.
She said any candidate had to be supported by their own government and it was known that the Treasury was not supporting Mr Brown's candidacy.
Other names thought to be in the frame for the IMF job include Singapore's finance minister Tharman Shanmugaratnam, former South African finance minister Trevor Manuel and Kemal Dervis and Turkey's former minister of economic affairs.Other names thought to be in the frame for the IMF job include Singapore's finance minister Tharman Shanmugaratnam, former South African finance minister Trevor Manuel and Kemal Dervis and Turkey's former minister of economic affairs.
The highest-profile potential candidate for the job is France's finance minister, Christine Lagarde.The highest-profile potential candidate for the job is France's finance minister, Christine Lagarde.